You’ve seen the captivating commercials from car insurance companies like Progressive and Farmers that make promises of dirt cheap rates. So you should just choose the one with the best commercial, right?
It’s not that simple, unfortunately, as there are a ton of unknown factors such as if you want the added protection of full coverage, your annual mileage driven, and your credit score, that all help calculate your car insurance rates. This article will discuss the different ways to avoid overpaying and also should give you a good start to your coverage search.
One of the more important things that determine the cost of insurance is where you live in Plano. Cities with larger populations or higher claim trends tend to have more expensive car insurance rates, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.
The next table sorts the most expensive places in Texas for Lyft drivers to buy auto insurance in. Plano shows up at #22 with a yearly premium of $1,560 for the average policy, which is around $130 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | McAllen | $1,936 |
| 2 | Laredo | $1,907 |
| 3 | Houston | $1,891 |
| 4 | Amarillo | $1,858 |
| 5 | Dallas | $1,855 |
| 6 | Brownsville | $1,851 |
| 7 | Garland | $1,832 |
| 8 | Mesquite | $1,807 |
| 9 | Pasadena | $1,794 |
| 10 | Grand Prairie | $1,793 |
| 11 | Beaumont | $1,754 |
| 12 | Irving | $1,736 |
| 13 | San Antonio | $1,722 |
| 14 | Lubbock | $1,682 |
| 15 | Carrollton | $1,647 |
| 16 | Arlington | $1,642 |
| 17 | Fort Worth | $1,621 |
| 18 | Austin | $1,610 |
| 19 | El Paso | $1,584 |
| 20 | McKinney | $1,577 |
| 21 | Corpus Christi | $1,572 |
| 22 | Plano | $1,560 |
| 23 | Abilene | $1,545 |
| 24 | Killeen | $1,533 |
| 25 | Waco | $1,522 |
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Premium amounts are approximated as the specific Plano residence address can modify premium rates noticeably.
Comparing quotes for affordable insurance is challenging, and finding out which company offers the most affordable car insurance rates for Lyft drivers will take a little more work. Each insurance company has their own formula for setting rates, so let’s begin by taking a look at the most affordable car insurance companies in Plano, TX.
It’s important that readers know that Plano car insurance rates are calculated based on many things which can significantly increase or decrease the price of your policy. Simply having a birthday, marrying your spouse, or getting a ticket for running a stop sign may prompt premium changes that may make certain companies higher-priced than the competition.
Find the Best Cheap Insurance for Your Lyft Vehicle
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,052 |
| 2 | USAA | $1,084 |
| 3 | Texas Farm Bureau | $1,199 |
| 4 | Germania Mutual | $1,294 |
| 5 | California Casualty | $1,382 |
| 6 | Esurance | $1,407 |
| 7 | State Farm | $1,450 |
| 8 | Mercury | $1,461 |
| 9 | Safe Auto | $1,549 |
| 10 | Nationwide | $1,600 |
| 11 | Allstate | $1,667 |
| 12 | Progressive | $1,715 |
| 13 | Amica | $1,757 |
| 14 | GEICO | $2,072 |
| 15 | Home State | $2,092 |
| 16 | Encompass | $2,232 |
| 17 | Unitrin | $2,241 |
| 18 | MetLife | $2,249 |
| 19 | 21st Century | $2,396 |
| 20 | Titan | $2,594 |
| Get a Custom Quote Go | ||
Travelers may offer some of the best car insurance rates in Plano at around $1,052 each year. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also rank well as some of the best Plano, TX auto insurance companies.
In the above example, if you currently buy coverage from USAA and switched to Travelers, you may realize annual savings of around $32. Customers with Texas Farm Bureau could save as much as $147 a year, and Germania Mutual insureds might reduce prices by as much as $242 a year.
If you want to see how much you could save, click here to start your custom quote or visit several of the following companies.
Remember that these rates are averaged for all types of insureds and vehicles and do not factor in an exact zip code location for Lyft drivers. So the company that can offer you the best price may not even be in the top 23 companies in the list above. That helps illustrate why you need to get auto insurance quotes using your own driver and vehicle profiles.
The vehicle model you are insuring is one of the biggest factors when trying to find cheaper coverage for Lyft drivers. Vehicles with average performance, excellent safety ratings, or a track record of few liability claims will cost quite a bit less to insure than high performance models.
The list below outlines coverage premiums for a handful of the cheapest vehicles to insure in Texas.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX-L 4-Dr Sedan | $981 |
| Ford Escape XLS 2WD | $1,040 |
| Toyota RAV4 Sport 2WD | $1,072 |
| Jeep Grand Cherokee Laredo 4WD | $1,077 |
| Chevrolet Malibu Hybrid | $1,072 |
| Ford F-150 XLT Crew Cab 4WD | $1,094 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $1,104 |
| Ford Edge Limited AWD | $1,128 |
| Honda CR-V EX-L 2WD | $1,139 |
| Ford Fusion SEL 4-Dr Sedan | $1,150 |
| GMC Sierra SLE Crew Cab 2WD | $1,157 |
| Toyota Prius | $1,150 |
| GMC Sierra 3500HD SLE Extended Cab 2WD | $1,169 |
| Chevrolet Silverado 3500HD LTZ Crew Cab 2WD | $1,191 |
| Honda Odyssey LX | $1,219 |
| Dodge Grand Caravan Hero | $1,230 |
| Toyota Camry Hybrid | $1,235 |
| Ford Explorer Eddie Bauer AWD | $1,251 |
| Toyota Corolla LE | $1,295 |
| Chevrolet Impala LTZ | $1,304 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,295 |
| Toyota Camry SE | $1,301 |
| Chevrolet Silverado 2500HD LT Extended Cab Diesel 2WD | $1,305 |
| Find Cheaper Rates Go | |
Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Table data does not factor in the specific area where the vehicle is garaged which can affect coverage prices considerably.
Based upon these rates, you can assume that cars like the Honda Accord, Ford Escape, Toyota RAV4, Jeep Grand Cherokee, and Chevrolet Malibu are most likely to be a few of the most economical vehicles to insure for Lyft vehicles.
Insuring your vehicle with the highest-rated company is hard considering how many different companies sell coverage in Plano. The ranking data displayed below can help you select which car insurance companies you want to consider when trying to find the cheapest insurance for Lyft drivers. These rankings are only comprised of the largest auto insurers in America, so companies that focus mainly on Texas business are not factored into these rankings.
Top 10 Large Car Insurance Companies in Plano Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Large Car Insurance Companies in Plano Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Discounts on Plano insurance rates
Insurance companies that offer cheap quotes for Lyft drivers may have policy discounts that could lower prices by as much as 25% or more if you are eligible. A list of car insurance companies and a partial list of their discounts can be read below.
- AAA policyholders can earn discounts including pay-in-full, multi-policy, good student, education and occupation, and multi-car.
- Progressive includes discounts for homeowner, multi-policy, multi-vehicle, online signing, and online quote discount.
- State Farm may include discounts for multiple autos, student away at school, Steer Clear safe driver discount, defensive driving training, Drive Safe & Save, and anti-theft.
- Esurance has discounts for online shopper, good student, multi-policy, multi-car, online quote, and paid-in-full.
- Nationwide may offer discounts for anti-theft, Farm Bureau membership, business or organization, accident-free, defensive driving, easy pay, and family plan.
The example below compares insurance prices with and without discounts applied to the policy rates. The data assumes a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with passive restraint, vehicle safety, multiple policy, defensive driving course, anti-theft, and marriage discounts applied. When these discounts are applied, theaverage amount saved on car insurance for Lyft drivers is 28% or $474.
How careless driving impacts car insurance rates
One of the best ways to get the best car insurance prices in Texas for Lyft vehicles is to be a good driver and not get tickets or have accidents. The chart below highlights how traffic violations and accidents can raise yearly insurance costs for different age groups. The premiums assume a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
The data above shows the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,529. Factor in two speeding tickets and the average cost increases to $2,105, an increase of $575 each year. Now include two accidents along with the two speeding tickets and the yearly cost of car insurance for Lyft drivers goes up to an average of $4,351. That’s an increase of $2,822, or $235 per month, just for being a little careless behind the wheel!